When Will Market Bottom Out?

Global Equity Indices

Last day, it was notified that due to Moon-Saturn conjunction (today), a sudden fall would be observed (especially with Asia’s opening).

Around 09.30 AM (IST), markets are expected to bounce back from lows. However, uncertainty may last till US opening. From there, market will gradually move up. US market shall be bullish for the day.

This will turn next day’s opening to the positive side for Asia. This upward move may last till next day’s US opening. From there, market can again decline. Friday seems to be another negative day.

With S/L of 1840, long S&P 500 March Fut for target 1920-1950.

Last day, at Asian time S&P500 made a high of 1907 and then declined to 1857.

The lows being made today in stock market shall not be breached till 29th January. It may make a top in the said time frame. However this Friday is a negative day.

PRECIOUS METALS

Bullion shall be positive for the day with some volatility. Last day, Gold made a high of 1094 while Silver made a high of 14.16.

Today, Gold can try to cross 1100 while Silver can cry to cross 14.20.

INDUSTRIAL METAL: COPPER

Copper shall be positive for today and tomorrow. Long Copper with stop loss of 1.95.

CRUDE OIL

Crude Oil made a high of 31.50 in last week. With S/L of 28.60, long crude oil march contract for target of 31.50-32.10 by tomorrow.

If 32.20 is crossed then it’ll enter bullish pattern.

NG

NG shall trade in mixed to positive trend. It made a high of 2.15 in the previous trading session. Long NG with stop loss of 2 for target of 2.15-2.25.

EURO

EUR/USD can drop to 1.0800 by next day.

Around 1.0920-1.0930, short 50% EUR/USD for target 1.0860 and below.

USD/INR

Sell USD/INR with stop loss of 68.10 for target 67.80-67.50.

DOLLAR INDEX

Dollar index shall be weak / negative for today and tomorrow.

US TREASURY BONDS

Negative trend is forecasted for bonds in the next 2 days.Hold short position for tomorrow.

INDIAN STOCK MARKET

Indian market shall be highly volatile for the day. Gap down opening may be observed followed by recovery. Uncertainty may be seen.

In the previous trading session, NIFTY FUT made a high of 7475 and BANK NIFTY had a high of 15375.

Today, you can long NIFTY FUT with stop loss 7340 for target 7420-7480 and BANK NIFTY with stop loss 14800 for target 15300+.

TRADING RANGE:

  • NIFTY FUT: 7350-7450
  • BANK NIFTY: 14900-15350

BUY ON DIPS:

  • RELIANCE INDUSTRIES
  • YES BANK
  • CENTURY TEXTILE
  • RELIANCE INFRA

 

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